@mxchara
I don't know about MORE racist. Tolkien certainly used the word "swarthy" more times than I can be comfortable with. That said, there is always going to be some stuff that echoes in a disturbing way to the real world in a setting where there are actual different RACES, and not just people with different amounts of melanin.
As for the overall events, I don't demand a scene for scene duplication of my books from a movie. I think of it like reading historical events taken from different primary sources. I tend to be satisfied if they get the overall events and characters right. Hollywood being what it is, a pure and 100% faithful interpretation wouldn't have ever made it as far as principal photography. No, I didn't need Orlando fucking Bloom riding a shield like a skateboard, but it would be worth keeping in mind the previous attempts to adapt these stories.
As for blaming Jackson for everything becoming a special effects extravaganza, do you really think we ever get those movies without The Matrix? That was moment I saw the change, when the effects budget of every blockbuster suddenly quadrupled. I know everyone has a soft spot for those movies, but if we're going to lay blame, let's be honest about who deserves it.